PUBLISHER: DelveInsight | PRODUCT CODE: 1439507
PUBLISHER: DelveInsight | PRODUCT CODE: 1439507
Aerosol Delivery Devices Market By Product Type (Dry Powder Inhaler, Metred Dose Inhaler, Soft Mist Inhalers, Nebulizers [Ultrasonic Nebulizers, Mesh Nebulizers, And Compressor Nebulizers]), By Type (Conventional Inhaler Devices And Smart Inhaler Devices), By Patient Type (Adult And Pediatrics), By Indication (Asthma, Copd, And Others), by geography, is expected to grow at a noteworthy CAGR forecast till 2030 due to the escalating prevalence of pulmonary disorders across the globe and growing adoption of digital technology for developing enhanced aerosol delivery devices
The global aerosol delivery devices market was valued at USD 33.95 billion in 2023, growing at a CAGR of 5.38% during the forecast period from 2024 to 2030, in order to reach USD 46.50 billion by 2030. The aerosol delivery devices market is gaining momentum owing to the rapidly rising cases of respiratory disorders such as asthma, chronic obstructive pulmonary disorders (COPD), and others. Moreover, decreasing air quality in industrialized areas due to increasing air pollution is also a key factor driving the aerosol delivery devices market. In addition, the growing adoption of digital technology by key pharmaceutical players to provide better respiratory disorder management solutions along with the increase in product approvals will contribute to the aerosol delivery devices market growth.
Aerosol Delivery Devices Market Dynamics:
The increase in demand for aerosol delivery devices is predominantly attributed to the rising prevalence of pulmonary disorders such as cystic fibrosis, COPD, and others across the globe. For instance, asthma is a major chronic respiratory disease affecting both adults and children. According to the data released by the World Health Organization (WHO) in the year 2023, approximately 262 million people worldwide were affected by asthma in the year 2019. The report also stated that most of the asthma-related cases occurred in low- and lower-middle-income countries. Moreover, as per the Global Asthma Report 2018, in India, about 6% of children and 2% of adults have asthma in the same year. Therefore, the growing cases of asthma will lead to increase demand for various aerosol delivery devices as these inhalers allow the medication to directly enter into the lungs when breathed through the mouth thereby relaxing the muscles and opening the airway, allowing more air to move in and out of the lungs for easy and comfortable breathing.
Furthermore, deteriorating air quality and an increase in air pollutants to several folds due to rapid urbanization have led to a steady increase in respiratory illness which in turn will lead to the market growth for Aerosol Delivery Devices. According to WHO 2022 report, an estimated 91% of the world population in the year 2016 lived in places where air quality exceeded WHO guideline limits. Rising air pollution is found to increase the risk of several respiratory-associated discomforts.
Additionally, rising product approvals of various Aerosol Delivery Devices are also expected to spur the market for Aerosol Delivery Devices. For instance, in May 2020, Iconovo received CE mark approval for its capsule-based dry powder inhaler ICOcap(TM) for use in clinical trials.
Henceforth, the above-mentioned factors will contribute to the global Aerosol Delivery Devices market growth during the forecasted period.
However, certain factors such as the lack of a single, effective device for every respiratory disorder and availability of alternative therapies such as oral medications, subcutaneous injections are expected to pose a challenge to the Aerosol Delivery Devices market growth.
Also, the unprecedented outbreak of the COVID-19 pandemic is expected to have a limited effect on the Aerosol Delivery Devices market. This is because COVID infection severely affects the lungs and it is estimated that people may develop respiratory illness as an after effect which will surge the demand for Aerosol Delivery Devices among the COVID recovering patients. Also, various clinical trials are ongoing at present to study the efficacy of asthma inhalers on COVID-19 patients. Furthermore, the launch of vaccines and their administration across the globe will normalize the market situation in the post-pandemic situation.
Aerosol Delivery Devices Market Segment Analysis:
Aerosol Delivery Devices Market By Product Type (Dry Powder Inhaler, Metred Dose Inhaler, Soft Mist Inhaler, Nebulizers [Ultrasonic Nebulizers, Mesh Nebulizers, and Compressor Nebulizers]), By Type (Conventional Inhaler Devices and Smart Inhaler Devices), By Patient Type (Adult and Paediatrics), By Indication (Asthma, COPD, and Others), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World).
In the aerosol delivery devices type segment, the smart inhaler devices segment is expected to hold a significant market share during the forecasted period. This is owing to the growing pharmaceutical companies collaborating with digital health companies for developing smart inhaler devices. For instance, in May 2020, Propeller Health, one of the leading digital health companies dedicated to the management of asthma and COPD received FDA clearance to bring its connected platform to AstraZeneca's Symbicort to help digitize the treatment of asthma and chronic obstructive pulmonary disease (COPD).
Also, the advantages associated with smart inhalers such as accuracy in drug dosage, assisting discussions between clinicians and patients, among others are projected to increase the demand for smart inhaler-type devices.
Moreover, the rising approval of connected devices is also a factor contributing to the segmental growth of the Aerosol Delivery Devices market. For instance, on December 07, 2020, AireHealth, an innovative digital health company received 510(k) clearance for its connected nebulizer. The device is a portable, electronic vibrating mesh nebulizer designed to nebulize liquid medications for inhalation by a patient in and out of the home and will be marketed under the brand name VitalMed.
Hence, all the aforementioned factors will lead to the segmental growth of the aerosol delivery devices market in the coming years.
North America is expected to dominate the overall Aerosol Delivery Devices Market:
Among all the regions, North America is expected to occupy a major share in the overall Aerosol Delivery Devices market during the forthcoming years. This domination is owing to the increasing prevalence of COPD in the region. Additionally, increase in adoption of technologically advanced Aerosol Delivery Devices, growing product launches associated with inhalers in the region, presence of well-established healthcare facilities, and rising government initiatives to raise awareness regarding respiratory disorders and their proper management in the region, among others.
Further, in the United States, rising smoking and related disorders are also expected to fuel the market for Aerosol Delivery Devices. For instance, as per the Centres for Disease Control and Prevention (CDC) 2019 report, nearly 14 of every 100 US adults aged 18 years or older (14.0%) smoked cigarettes. This means an estimated 34.1 million adults in the United States currently smoke cigarettes and more than 16 million Americans live with a smoking-related disease. Smoking is a major risk factor associated with the development of COPD disorder among the population. Also, based on the American Lung Association data, in 2018, 16.4 million people, or 6.6% of adults, reported a diagnosis of any type of COPD (chronic bronchitis, emphysema, or COPD). The COPD rates among adults ranged from 4.0% in Hawaii to 15.3% in West Virginia. In addition, according to the Canadian Tobacco and Nicotine Survey (CTNS) 2019 statistics, the prevalence of cigarette smoking in 2019 was 12% (3.7 million) and there was no difference in the prevalence of smoking between men (13% or 1.9 million) and women (11% or 1.7 million). Thus, increasing the risk among the population of developing COPD and other respiratory disorders.
Also, recent product approvals in the region will further augment the market for smart inhalers in the region. For instance in July 2020, Teva Respiratory, LLC., a U.S. affiliate of Teva Pharmaceutical Industries Ltd. launched ProAir® Digihaler® (albuterol sulfate 117 mcg) Inhalation Powder for Patients with Asthma and COPD.
Furthermore, Europe and Asia-Pacific regions have the future potential growth for the global Aerosol Delivery Devices market. The presence of key players such as GlaxoSmithKline, AstraZeneca, and Teva pharmaceuticals, among others is likely to drive the market. In addition, products launch by the companies present in the region is also expected to bolster the market for respiratory devices. For instance, in October 2020, Zydus Cadila launched India's first pressurized Metered Dose inhalers for patients suffering from Chronic Obstructive Pulmonary Disease. Moreover, rising geriatric population, increase in air pollution level in the region, growing cases of asthma and other pulmonary diseases, an increase in disposable income, rapid urbanization, improving healthcare facilities, and integration of IoT and digitalization in the healthcare system in the region are the factors that are likely to drive the market for Aerosol Delivery Devices.
Aerosol Delivery Devices Market Key Players:
Some of the key market players operating in the Aerosol Delivery Devices market include Novartis AG, AstraZeneca, GlaxoSmithKline plc, CHIESI Farmaceutici S.p.A., Lupin, Zydus Cadila, Teva Pharmaceutical Industries Ltd., OMRON, Koninklijke Philips N.V., PARI GmbH, Boehringer Ingelheim International GmbH., Glenmark Pharmaceuticals Limited, Lepu Medical Technology(Beijing)Co.,Ltd., Rossmax International Ltd, Promed Technology Co., Limited, HELTMAN Medikal A.S., Pneuma Respiratory., Cipla Inc., Microlife Corporation., Honsun, and others.
Recent Developmental Activities in the Aerosol Delivery Devices Market:
In September 2020, GlaxoSmithKline plc and Innoviva, Inc. received FDA approval for Trelegy Ellipta as the first once-daily single inhaler triple therapy for the treatment of both asthma and COPD in the US.
In July 2020, Novartis received the European Commission (EC) approval for Enerzair® Breezhaler®, including the first digital companion (sensor and app) that can be prescribed alongside treatment for uncontrolled asthma in the EU.
In January 2020, Aptar Pharma partnered with Lupin to launch India's first connected smart device for respiratory disease, ADHERO.
Key Takeaways from the Aerosol Delivery Devices Market Report Study
Market size analysis for current market size (2023), and market forecast for 5 years (2024-2030)
The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Aerosol Delivery Devices market.
Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
Key companies dominating the Global Aerosol Delivery Devices Market.
Various opportunities available for the other competitor in the Aerosol Delivery Devices Market space.
What are the top-performing segments in 2023? How these segments will perform in 2030.
Which are the top-performing regions and countries in the current market scenario?
Which are the regions and countries where companies should have concentrated on opportunities for Aerosol Delivery Devices market growth in the coming future?
Target Audience who can be benefited from the Aerosol Delivery Devices Market Report Study
Aerosol Delivery Devices providers
Research organizations and consulting companies
Aerosol Delivery Devices-related organization, association, forum, and other alliances
Government and corporate offices
Start-up companies, venture capitalists, and private equity firms
Distributors and Traders in Aerosol Delivery Devices
Various End-users who want to know more about the Aerosol Delivery Devices Market and the latest technological developments in the Aerosol Delivery Devices market.
Frequently Asked Questions for the Aerosol Delivery Devices Market:
Aerosol Delivery Devices are portable devices used to deliver medications for chronic obstructive pulmonary disease (COPD) and asthma into the airways. They are used to prevent and treat exacerbations of these chronic conditions. They offer the advantage of avoiding the systemic effects of drugs while ensuring that drugs are delivered right where they are needed.
The global aerosol delivery devices market was valued at USD 33.95 billion in 2023, growing at a CAGR of 5.38% during the forecast period from 2024 to 2030, in order to reach USD 46.50 billion by 2030.
The major factors driving the demand for Aerosol Delivery Devices are the rising cases of pulmonary disorders such as asthma, COPD, among others. Moreover, growing air pollution levels, increasing burden of the old age population are also some of the factors. Further, the integration of digitalization in the existing Aerosol Delivery Devices is also a factor leading to market growth.
Some of the key market players operating in the Aerosol Delivery Devices market include Novartis AG, AstraZeneca, GlaxoSmithKline plc, CHIESI Farmaceutici S.p.A., Lupin, Zydus Cadila, Teva Pharmaceutical Industries Ltd., OMRON, Koninklijke Philips N.V., PARI GmbH, Boehringer Ingelheim International GmbH., Glenmark Pharmaceuticals Limited, Lepu Medical Technology(Beijing)Co.,Ltd., Rossmax International Ltd, Promed Technology Co., Limited, HELTMAN Medikal A.S., Pneuma Respiratory., Cipla Inc., Microlife Corporation., Honsun, and others.
Among all the regions, North America is expected to occupy a major share in the overall Aerosol Delivery Devices market during the forthcoming years, 2024-2030. This domination is owing to the increasing prevalence of COPD in the region. Additionally, increase in adoption of technologically advanced Aerosol Delivery Devices, growing product launches associated with inhalers in the region, presence of well-established healthcare facilities, and rising government initiatives to raise awareness regarding respiratory disorders and their proper management in the region, among others.